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LIC should protect its shareholding: Takru

Rajiv Takru wants LIC to exercise greater control and seek more board seats if required

June 24, 2013 1:48 IST | India Infoline News Service
Financial Services Secretary Rajiv Takru said that Life Insurance Corporation of India (LIC) should protect its shareholding and ensure highest standards of corporate governance, according to a media report.

Takru wants the state-owned insurer to protect its shareholding and ensure the highest standards of functioning, the report added.

LIC—which manages assets worth over Rs. 13 trillion—has investments in hundreds of Indian companies. However, it is seen as being a passive fund manager.

Takru wants LIC to exercise greater control and seek more board seats if required, in some of the listed companies in which it has sizeable holdings to ensure the safety of investments, the report further said.

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